On May 20, 2024, Apollo Pipes informed the stock exchanges that the company is adopting a new line of business, which falls in the domain of UPVC Doors and Windows Profiles. This new line of business is an extension of the product range in the polyvinyl chloride (PVC) segment. The company stated that UPVC Doors …
The Supreme Court of India has provided major financial relief to Bharti Airtel, Vodafone Idea, and Tata Communications by waiving the interest on their substantial tax dues, saving them around Rs.3,000 crore. October ’23 Judgment In October 2023, the Supreme Court reversed a 2013 Delhi High Court ruling. The Court declared that annual license fees …
On May 21, 2024, Shriram Properties Limited (SPL) informed the exchanges that it had signed a Joint Development Agreement (JDA) to develop a prime 4-acre land parcel nestled in the coveted micro market of Yelahanka, Bengaluru. The proposed project will comprise 270 apartments, totalling approximately 3.8 lakh square feet of saleable area. With an aggregate …
On May 21, 2024, Coforge Limited informed the stock exchanges about the collaboration with Microsoft to establish the Coforge Copilot Innovation Hub. The Hub will develop a pipeline of new industry-specific generative AI solutions and work closely with Microsoft to integrate these solutions with its generative AI products and technologies, including Microsoft Azure OpenAI Service, …
The benchmark index S&P BSE 500 opened today at 33,390.16 and made its day high at 33,405.33, and it is trading flat today, up by around 0.01%. From the same space, these are the top 3 companies that outperformed the benchmark index and were up by more than 5% today. Poly Medicure Ltd Shares of …
On May 21, 2024, Glenmark Pharmaceuticals Ltd informed the stock exchanges that the company’s subsidiary, Glenmark Specialty S.A., made an exclusive marketing and distribution agreement with a global oncology company, BeiGene. As per the agreement, Glenmark will register and commercialise BeiGene’s oncology medicines, Zanubrutinib and Tislelizumab, in India. Under this strategic partnership, Glenmark will be …
The Indian Railway Finance Corporation (IRFC) has announced a fundraising initiative, aiming to secure up to Rs.50,000 crore from both domestic and international markets. This plan, approved by the IRFC board, involves the issuance of bonds or procuring bank loans in FY25 for this fundraiser. IRFC’s Fundraising Mix The IRFC plans to raise funds through …
Solara Active Pharma Sciences Limited (Solara), a leading pure-play Active Pharmaceutical Ingredient (API) provider, announced a significant milestone with the successful completion of a US Food and Drug Administration (US FDA) inspection at its new, state-of-the-art multipurpose API manufacturing facility in Visakhapatnam, Andhra Pradesh. This achievement underscores Solara’s unwavering commitment to quality and compliance in …
In a significant development in the banking sector, shareholders of IDFC First Bank have given their approval for the merger of IDFC Ltd with the bank. This merger is expected to streamline the operations and improve the financial stability of the entities involved. Shareholder Approval The merger proposal received support from the shareholders, with over …
On May 17, 2024, the Nifty 50 rose 0.28% and closed at 22,466, and the Sensex went up by 0.34%, closing at 73,917. Top Gainers and Losers On the sectoral front, Nifty Consumer Durables, Nifty Auto, Nifty Realty and Nifty Metal ended in the green. Meanwhile, Nifty IT, Nifty Healthcare Index, and Nifty Pharma were …
